Cabbage prices soar this year as kimchi imports increase 7%, highest ever in South Korea

Published 2024년 9월 2일

Tridge summary

Korean kimchi imports have seen a nearly 7% increase compared to last year, reaching record highs due to the high prices of summer cabbage domestically. The majority of the kimchi imported is from China, which is about 40% cheaper than domestic products. The weight of kimchi imports in the first seven months of this year was 173,329 tons, marking the highest ever. Kimchi is primarily used in restaurants and catering. Meanwhile, kimchi exports have also seen an increase, with the United States and Europe being the main markets.

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Original content

(Seoul = Yonhap News) Reporter Kim Yun-gu = It has been revealed that kimchi imports this year have increased by nearly 7% compared to last year, recording the highest ever. Kimchi imports have increased due to the skyrocketing prices of summer cabbage amid high prices this year. Almost all kimchi imported by Korea is from China, which is usually about 40% cheaper than domestic products. According to the Korea Customs Service's export and import statistics on the 2nd, the amount of kimchi imported from January to July this year was $98.47 million (approximately KRW 130 billion), a 6.9% increase from the same period last year. This amount exceeds the $96.49 million in 2022, when kimchi imports from January to July were the highest ever. The amount of kimchi imports in 2022 is $169.4 million, the highest ever. As of July this year, the weight of kimchi imports was 173,329 tons, a 6.0% increase from the same period last year. Imported weight is also the highest ever, exceeding ...

Source: Yna